Explain how the following five pairs of topics, covered by the International Accounting Standards Boards (IASBs) Conceptual Framework, are connected and why the linkages between them are im- portant for financial reporting standard setting.

1a) Objective-> Qualitative Characteristics 1b) Qualitative Characteristics -> Recognition

1c) Elements -> Recognition 1d) Elements -> Capital Maintenance 1e) Measurement -> Capital Maintenance